Olema Pharmaceuticals (NASDAQ:OLMA) Shares Gap Up to $10.89

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $10.89, but opened at $11.45. Olema Pharmaceuticals shares last traded at $11.11, with a volume of 87,204 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OLMA. Capital One Financial reissued an "overweight" rating on shares of Olema Pharmaceuticals in a report on Thursday, February 22nd. Citigroup began coverage on shares of Olema Pharmaceuticals in a report on Tuesday, January 30th. They issued a "buy" rating and a $20.00 target price for the company. Finally, The Goldman Sachs Group began coverage on shares of Olema Pharmaceuticals in a report on Tuesday. They issued a "buy" rating and a $24.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $21.43.

Olema Pharmaceuticals Price Performance

The company has a market capitalization of $606.17 million, a P/E ratio of -5.04 and a beta of 2.10. The business has a 50-day moving average of $13.16 and a 200-day moving average of $13.12.

Insider Transactions at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 20,000 shares of Olema Pharmaceuticals stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $10.97, for a total transaction of $219,400.00. Following the completion of the sale, the director now directly owns 826,283 shares in the company, valued at $9,064,324.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 70,000 shares of company stock worth $835,400. 23.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Olema Pharmaceuticals by 58.2% during the fourth quarter. Vanguard Group Inc. now owns 2,705,895 shares of the company's stock valued at $37,964,000 after buying an additional 995,588 shares during the period. BlackRock Inc. grew its stake in Olema Pharmaceuticals by 11.1% in the first quarter. BlackRock Inc. now owns 2,552,949 shares of the company's stock valued at $10,874,000 after purchasing an additional 254,785 shares during the last quarter. Vivo Capital LLC grew its stake in Olema Pharmaceuticals by 39.9% in the third quarter. Vivo Capital LLC now owns 1,873,704 shares of the company's stock valued at $23,140,000 after purchasing an additional 534,433 shares during the last quarter. MPM Bioimpact LLC lifted its holdings in shares of Olema Pharmaceuticals by 301.7% during the third quarter. MPM Bioimpact LLC now owns 1,857,681 shares of the company's stock worth $22,942,000 after purchasing an additional 1,395,181 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Olema Pharmaceuticals by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company's stock worth $24,069,000 after purchasing an additional 21,420 shares during the period. Hedge funds and other institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women's cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1b/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer.